Investment banks’ summer internships are over. Despite suggestions that big banks have extended fewer offers than in previous years, top university students who endured demanding 80-hour weeks for the past three months have walked away with offers for 2018.
So, what does it take to be among the 70% or so of people who secured full-time jobs for next year? Below is a selection of people who managed to convert their internships.
Catarina rotated around Morgan Stanley’s markets business this summer including stints in equity sales and FX emerging markets trading, but ended up securing a full-time role in credit trading. This summer was her second internship, having spent last year on the commodities desk at J.P. Morgan. She is set to graduate with a Masters in Finance from the London School of Economics next summer, and already has a first class degree in Business Administration and Management from Cass Business School.
Maximilian is another Masters in Finance graduate, this time coming from Imperial College London. He also has an undergraduate degree in Economics from UCL. A keen poker player and captain of the 3rd XV rugby squad at UCL, this summer at Barclays was Maximilian’s first investment banking internship. Instead, a lot of his finance experience has been elsewhere including at Willis Towers Watson and as a shadow placement at SocGen’s private bank.
Sophie is set to graduate from Warwick Business School next year with a BSc in Management. She’s been involved with its finance society, polo club and business school society and was singled out shortly before she began her internship at J.P. Morgan as a ‘One to Watch’ by Freshminds Talent. Sophie has various other internships under her belt including a spring internship at Goldman Sachs and the Future Women Leaders Programme at private equity firm Blackstone. Last summer she interned at AI firm TypeScore.
Edouard spent the summer in J.P. Morgan’s EMEA TMT team and converted the internship into a full-time offer. Again, he’s a Masters student, studying Economics and Management at the LSE following an undergraduate degree in Economics from Bocconi in Italy. Edouard’s last internship before J.P. Morgan was at S.W. Mitchell Capital, an equities boutique in London, and he also spent the summer at consultant A.T Kearney in Milan.
Tobias has completed a broad range of internships before settling on equity research at Morgan Stanley, where he spent this summer on the financials and telecoms research desk. Before this, last summer was spent on the structured equity trading desk at Unicredit, and he’s also interned in research at fund manager Amundi Pioneer and in M&A at boutique outfit Aquin & Cie. He’s another Masters in Finance student and is set to graduate from King's College London with an MSc in Banking and Finance.
Ismail has two summer internships under his belt within the markets divisions of top U.S. bracket investment banks. This year, he converted a rotational placement at Bank of America Merrill Lynch (BAML), where he spent time in credit trading and emerging markets trading. Before this, he spent the summer within Goldman Sachs’ securities unit. He studied Economics and Statistics at UCL, and was an ‘educational officer’ at the student run investment fund, Bloomsbury Capital. He was also vice president for finance at the UCLU economics and finance society.
Kiranjeet spent the summer in sales on UBS’s trading floor and converted the placement into a full-time offer. Last year, she interned at Morgan Stanley, within its sales and trading business. She’s set to graduate from Cambridge University with a degree in Economics, where she was involved in various financially focused societies – the finance and investment society, the women in banking and finance society and she was also president of The Marshall Society, Cambridge’s economics society.
Callum converted his internship in equity derivatives hedge fund sales at J.P. Morgan this summer. This was his first summer internship, having previously completed work placements and Spring internships at Deutsche Bank and Citi, respectively. He is studying Economics at UCL.
Louisa rotated around various desks within Morgan Stanley’s fixed income sales and trading division this summer including structured derivative sales and interest rate sales. This was her first internship in London, having previously completed research placements at Kepler Cheuvreux and Equinet Bank in her native Germany. She is set to graduate with a degree in Business Administration from Ludwig-Maximilians Universität München, where she was also involved with its investment club.
William is another Masters student from the LSE, studying for a degree in Accounting and Finance. He converted his internship at Deutsche this summer within its corporate finance division, and also spent three months at BNP Paribas within equity research last year. Unusually for most new recruits this year, he has an undergraduate degree in French and Spanish from the University of Exeter.
Fares was working on the UK M&A desk at Barclays this summer and coverted it into a full-time offer. He journey is one of dedication – he spent three months at the bank on an off-cycle internship late last year, within M&A, having spent the summer of 2016 as an intern within its sales and trading division. Fares also worked on the ‘Goldman Sachs Masterclass’, a university competition, and has completed insight days at Royal Bank of Scotland. Unusually, Fares completed his degree – a BA in History from Oxford – in 2015.
Milly is notable because her internship at Macquarie this summer was her first in London. Instead, she racked up banking and consulting experience in her native China at local firm Guotai Junan Securities, as a strategy consulting intern at Roland Berger and as an investment analyst at Chinese retailer JD.com. She’s studying for a Masters in Management degree at London Business School.
Cameron’s route to a job at Deutsche is indicative of the fastest route in now. He started out as a Spring intern, then secured a summer placement within its markets business before converting it into a full-time position. Again, he’s a Masters student, studying Financial Mathematics at the University of Edinburgh, having already graduated from Durham University with a BSc in Maths. Interestingly, he was also involved with a volunteer scheme called ‘Earth Balance 2000’, which involved coming up with a business plan for a ‘wellness village’.
Vanessa converted her summer internship at J.P. Morgan this year. She has also spent time within Royal Bank of Scotland’s markets business and as a Spring intern at Morgan Stanley, J.P. Morgan and HSBC. She has BA in German and Latin and a more interesting list of extra-curricular activities than usual, including being involved with the Dance Society, Amnesty International and acting as the careers officer for the UCLU African and Caribbean Society.
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